credit card for spends

katx

hi, wonder what you all think, i want to go to new yrk in november, if i save 100 a month the flight etc is paid for by november and so far i am on course with this, howver spending money will be tight, tesco's do a good deal on a credit card 0% for 15 months, what are evryones views on taking out the credit card nearer the time, getting my spends on it, taking it with me, chopping it up when i get back and paying it off, or is there a better way to do this??:j

HappyChappy84

Firstly, by the time November comes around if you book your flights last minute you could end up paying double. Or, if the airlines need bums in seats (highly unlikely on any UK to New York route) you could get a bargain.

Secondly, no! You will be stung for all manner of foreign transactions and currency conversion fees. If it is still available you need the Santander Zero card, or something like it. Whatever you do DO NOT withdraw cash on your credit card whilst abroad.

A friend of mine went to the states some years ago and they asked him to prove how he was going to keep himself while he was there. He showed them his credit cards and they marched him to a cash machine and made him withdraw hundreds and hundreds of $.

katx

a friend is paying for the flights etc and i am direct debitting the money to them so by the time november comes it will be paid, if i got the card then, withdrew the cash uk side transferred to dollars and took with me and also put the money on my visa would this not work ?

HappyChappy84

katx wrote: »

if i got the card then, withdrew the cash uk side transferred to dollars and took with me and also put the money on my visa would this not work ?

NEVER EVER withdraw cash from ANY credit card unless you want stung big time. However I think there are 1 or 2 cards that don't sting you, or sting you as bad as most. Which ones they would be I have no idea.

When you purchase something with a Credit card you get up to 56 days interest free. However interest on cash advances is huge and is calculated from the minute the money leaves the cash machine. Cash advances are a huge cash cow for credit card companies.

If you really have no other way of saving the required spends then see if you can get a decent overdraft with your bank and use that as the interest on that should be more favourable.

Feel free to correct me on any of the above if I am wrong on anything.